1. Report Industry Investment Rating - No relevant content found 2. Core Viewpoints of the Report - The report presents the performance data of various global asset markets on August 13, 2025, including bond yields, exchange rates, stock indices, and futures trading data [3][5][6] 3. Summary by Related Catalogs Global Asset Market Performance Bond Yields - **10 - year Treasury Bond Yields**: Yields of major economies showed different changes in the latest, weekly, monthly, and yearly periods. For example, the US 10 - year Treasury bond yield was 4.235 on August 13, 2025, with a latest change of - 0.056, a weekly change of 0.006, a monthly change of - 0.222, and a yearly change of 0.446 [3] - **2 - year Treasury Bond Yields**: Similar to the 10 - year bonds, yields of different countries had varying changes. The US 2 - year Treasury bond yield was 3.760 on August 13, 2025, with a latest change of 0.000, a weekly change of 0.070, a monthly change of - 0.150, and a yearly change of - 0.400 [3] Exchange Rates - **Dollar against Major Emerging Economies' Currencies**: The dollar's exchange rates against currencies like the Brazilian real, Russian ruble, South African rand, etc., had different changes. For example, the dollar - Brazilian real exchange rate was 5.398 on August 13, 2025, with a latest change of 0.16%, a weekly change of - 1.21%, a monthly change of - 3.07%, and a yearly change of - 5.68% [3] - **Renminbi**: The on - shore, off - shore, and middle - price of the renminbi, as well as the 12 - month NDF, also had their respective values and changes on August 13, 2025 [3] Stock Indices - **Major Economies' Stock Indices**: Stock indices of major economies such as the Dow Jones, S&P 500, and Nasdaq showed positive changes in the latest, weekly, monthly, and yearly periods. For example, the Dow Jones index was 6466.580 on August 13, 2025, with a latest change of 0.32%, a weekly change of 1.92%, a monthly change of 3.24%, and a yearly change of 24.69% [3] - **Other Stock Indices**: Including the Russian index, Nikkei, Hang Seng Index, etc., also had their own performance and changes [3] Credit Bond Indices - Credit bond indices of emerging economies and developed economies had different values and changes on August 13, 2025. For example, the emerging economies' investment - grade credit bond index was 3467.280, with a latest change of 0.46%, a weekly change of 0.29%, a monthly change of 2.08%, and a yearly change of 4.65% [3][4] Stock Index Futures Trading Data - **Index Performance**: A - shares, CSI 300, SSE 50, ChiNext, and CSI 500 had their closing prices, price changes, and other data. For example, the CSI 300 index closed at 4176.58 on August 13, 2025, with a price change of 0.79% [5] - **Valuation**: PE (TTM) and risk premiums of different indices were presented, along with their changes [5] - **Fund Flows**: The latest values and 5 - day average values of fund flows in different markets were given [5] - **Trading Volume**: The latest trading volumes and their changes of different markets were provided [5] - **Main Contract Premiums and Discounts**: The basis and basis spreads of IF, IH, and IC were shown [5] Treasury Bond Futures Trading Data - Treasury bond futures T00, TF00, T01, and TF01 had their closing prices and price changes on August 13, 2025 [6] - **Funding Rates**: R001, R007, and SHIBOR - 3M had their rates and daily changes [6]

Core Viewpoint - Japan is set to issue a five-year government bond amid rising concerns over market liquidity and volatility, which overshadow the auction [1] Group 1: Market Conditions - Concerns about liquidity in the Japanese government bond market have intensified, with the benchmark 10-year bond recording zero transactions for the first time in over two years [1] - The yield curve for Japanese government bonds has been particularly volatile this year, influenced by both domestic and global market fluctuations [1] - A liquidity measure for Japanese government bonds indicates a significant increase in the deviation of daily yields from fair value, surpassing levels seen during the 2008 global financial crisis [1] Group 2: Auction Expectations - Analysts from Tokai Tokyo Securities express optimism regarding the upcoming five-year bond auction, predicting a potential rebound in prices after an initial drop [1] - Senior rate strategist Miki Den from Sumitomo Mitsui Trust Securities believes the auction is likely to be successful, noting that current yields are higher than those at the last auction [2] - The average bid-to-cover ratio from the last auction was 3.54, slightly below the 12-month average of 3.78, indicating a potential shift in demand dynamics [2] Group 3: Economic Indicators - The upcoming GDP data release is expected to heighten concerns about stagflation, which may put additional pressure on long-term Japanese government bonds [2] - The rise in the German 30-year bond yield to its highest level since 2011, coupled with concerns about fiscal sustainability, is likely to negatively impact the performance of Japanese long-term bonds [2]

Group 1 - The 10-year Japanese government bond yield increased by 1.5 basis points to 1.515% [1]

Core Viewpoint - Indian government bonds have reached a four-month low, with analysts warning of potential further declines due to investor concerns over increased borrowing for fiscal stimulus in response to high tariffs imposed by the U.S. [1] Group 1: Market Performance - The price of Indian government bonds has dropped significantly, marking the lowest level in four months [1] - The yield on the 10-year benchmark government bond rose to 6.44%, the highest level since April of this year [1] Group 2: Future Projections - Standard Chartered Bank predicts that the bond yield may rise further to 6.6% by the first quarter of next year [1]

周一纽约尾盘，美国10年期基准国债收益率涨0.19个基点，刷新日高至4.2849%，全天绝大部分时间处 于下跌状态，北京时间15:17刷新日低至4.2539%。两年期美债收益率涨0.60个基点，报3.7684%，日内 交投于3.7414%-3.7705%区间。20年期美债收益率跌0.12个基点，30年期美债收益率涨0.30个基点。 ...

每经AI快讯，8月11日，印度10年期基准国债收益率收于6.4398%，上涨0.0291个基点；前一交易日收盘 价为6.4121%。 ...

1. Global Asset Market Performance 1.1 10 - Year Treasury Yields of Major Economies - On August 8, 2025, the 10 - year Treasury yields of the US, UK, France, etc. were 4.284%, 4.600%, 3.348% respectively. The latest changes were 0.033, 0.054, 0.053; weekly changes were 0.066, 0.074, 0.002; monthly changes were - 0.127, - 0.021, - 0.064; and annual changes were 0.252, 0.631, 0.337 [3]. 1.2 2 - Year Treasury Yields of Major Economies - As of August 8, 2025, the 2 - year Treasury yields of the US, UK, Germany were 3.690, 3.896, 1.952 respectively. The latest changes were - 0.030, 0.023, 0.036; weekly changes were - 0.250, 0.107, 0.027; monthly changes were - 0.190, 0.045, 0.056; and annual changes were - 0.670, 0.090, - 0.573 [3]. 1.3 Dollar Exchange Rates Against Major Emerging - Market Currencies - On August 8, 2025, the dollar - Brazilian real exchange rate was 5.435, with a latest change of 0.18%, a weekly change of - 1.94%, a monthly change of - 2.25%, and an annual change of - 3.82%. Similar data were provided for other currencies like the Russian ruble, South African rand, etc. [3]. 1.4 Stock Indices of Major Economies - On August 8, 2025, the S&P 500, Dow Jones Industrial Average, and Nasdaq were 6389.450, 44175.610, 21450.020 respectively. The latest changes were 0.78%, 0.47%, 0.98%; weekly changes were 2.43%, 1.35%, 3.87%; monthly changes were 2.07%, - 0.44%, 4.20%; and annual changes were 15.70%, 8.16%, 21.88% [3]. 1.5 Credit Bond Indices - The latest changes of the US investment - grade credit bond index, euro - area investment - grade credit bond index, etc. were - 0.24%, - 0.15%, etc.; weekly changes were - 0.12%, 0.08%, etc.; monthly changes were 1.45%, 0.45%, etc.; and annual changes were 5.06%, 4.83%, etc. [3][4] 2. Stock Index Futures Trading Data 2.1 Index Performance - The closing prices of A - shares, CSI 300, SSE 50, etc. were 3635.13, 4104.97, 2789.17 respectively. The corresponding percentage changes were - 0.12%, - 0.24%, - 0.33% [5]. 2.2 Valuation - The PE (TTM) of CSI 300, SSE 50, and CSI 500 were 13.31, 11.47, 30.52 respectively, with环比 changes of - 0.02, - 0.02, - 0.06 [5]. 2.3 Risk Premium - The risk premium (1/PE - 10 - year interest rate) of the S&P 500 and German DAX were - 0.59 and 2.68 respectively, with环比 changes of - 0.06 and - 0.03 [5]. 2.4 Fund Flows - The latest values of fund flows for A - shares, the main board, and SMEs were - 731.15, - 338.22, etc., and the 5 - day average values were - 266.18, - 179.38, etc. [5]. 2.5 Trading Volume - The latest trading volumes of the Shanghai and Shenzhen stock markets, CSI 300, and SSE 50 were 17102.27, 3085.08, 828.05 respectively, with环比 changes of - 1152.63, - 496.00, - 114.17 [5]. 2.6 Main Contract Basis and Spread - The basis of IF, IH, and IC were - 21.77, - 3.77, - 96.50 respectively, with spreads of - 0.53%, - 0.14%, - 1.53% [5] 3. Treasury Bond Futures Trading Data - The closing prices of T00, TF00, T01, and TF01 were 108.640, 105.840, 108.535, 105.895 respectively, with percentage changes of 0.06%, 0.05%, 0.06%, 0.06% [6]. - The funding rates of R001, R007, and SHIBOR - 3M were 1.3413%, 1.4538%, 1.5544% respectively, with daily changes of - 14.00, - 3.00, - 1.00 [6]

Report Industry Investment Rating - Not provided Core Viewpoints - Not provided Summary by Related Catalogs 1. Futures Data - **Futures Settlement Prices and Weekly Changes**: 10 - year Treasury bond futures T2509.CFE settled at 108.61 with a 0.15% weekly increase, T2512.CFE at 108.505 with a 0.07% increase; 5 - year Treasury bond futures TF2509.CFE at 105.82 with a 0.09% increase, TF2512.CFE at 105.875 with a 0.09% increase; 2 - year Treasury bond futures TS2509.CFE at 102.37 with a 0.02% increase, TS2512.CFE at 102.436 with a 0.04% increase; 30 - year Treasury bond futures TL2509.CFE at 119.25 with a 0.13% increase, TL2512.CFE at 118.880 with a 0.05% increase [7] - **Spread Data**: The T2509 - T2512 inter - term spread was 0.105 with a weekly decline of 0.523; TF2509 - TF2512 was - 0.055 with a decline of 12.000; TS2509 - TS2512 was - 0.066 with an increase of 7.250. The 2TS - T cross - variety spread was 300.870 with a decline of 0.088; 2TF - T was 103.030 with an increase of 0.020; TS - TF was 98.920 with a decline of 0.054 [7] - **Spot Bond Yields**: The 1Y Treasury bond yield was 1.35% with a weekly decline of 1.99 BP; 2Y was 1.40% with a decline of 2.69 BP; 3Y was 1.42% with a decline of 2.86 BP; 5Y was 1.54% with a decline of 2.39 BP; 7Y was 1.65% with a decline of 1.67 BP; 10Y was 1.69% with a decline of 1.88 BP; 30Y was 1.96% with an increase of 0.90 BP. The 1Y China Development Bank bond yield was 1.50% with an increase of 0.04 BP; 3Y was 1.63% with a decline of 0.99 BP; 5Y was 1.66% with a decline of 0.62 BP; 7Y was 1.79% with a decline of 0.01 BP; 10Y was 1.78% with an increase of 1.59 BP; 30Y was 2.05% with an increase of 0.16 BP [7] - **Funding Rates**: The DR001 inter - bank pledged repo rate was 1.31% with a weekly decline of 0.23 BP; DR007 was 1.43% with an increase of 0.09 BP; DR014 was 1.47% with a decline of 6.13 BP. The SHIBOR1M rate was 1.53% with a decline of 2.34 BP; SHIBOR3N was 1.55% with a decline of 0.86 BP [7] 2. CPI and PPI Data - **CPI Data**: The CPI in July was 0.4%, up 0.5 pct compared to the previous period, and the CPI in February 2024 was 0.8%, up 0.4 pct compared to the previous period. There were also various historical CPI data comparisons [21] - **PPI Data**: The PPI had changes such as a 0.4 pct change to - 0.2%, a 1 pct change to - 0.2 pct, etc [24]

每经AI快讯，8月8日，德国10年期国债收益率上升5个基点至2.68%。 ...

Core Viewpoint - The demand for the recent 30-year U.S. Treasury auction was weak, leading to a rise in bond yields across the board, indicating a cooling in market demand for U.S. government debt [1] Group 1: Auction Results - The recent auction of $25 billion in 30-year bonds saw a high yield of 2.1 basis points above the pre-auction level, reflecting decreased demand [1] - The 10-year Treasury yield increased by 1 basis point to 4.256%, while the 30-year yield rose nearly 2 basis points to 4.830% [1] Group 2: Market Sentiment - Analysts noted that weak U.S. employment data has lowered yields but simultaneously suppressed market allocation demand [1] - The appointment of Stephen Miran, who has publicly criticized Federal Reserve Chairman Jerome Powell's policies, has added pressure to the bond market [1] Group 3: Derivatives Market - Tradeweb reported a surge in hedging demand in the derivatives market, indicating rising investor concerns about long-term interest rate risks [1]